1259 Devon, Los Angeles, CA 90024
- $2,097,200
- Sold Price
- $2,097,200
- List Price
- $2,395,000
- Closing Date
- Feb 23, 2026
- Status
- CLOSED
- MLS#
- PW26006119
- Year Built
- 1939
- Lot Size
- 5,402
- Acres
- 0.12
- Lot Location
- Lawn
- Days on Market
- 20
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
Property Description
Welcome to 1259 Devon Ave located just south of Wilshire Blvd in one of West Los Angeles' most desirable neighborhoods. Surrounded by multi-million dollar homes and positioned near the prestigious Wilshire Corridor, this turnkey asset offers an impressive 6.5% cap rate rare for such a prime location. The property features 6 extensively renovated units, each with brand new kitchens and bathrooms, modern finishes, in-unit washer/dryers, and central A/C and heat. These upgrades enhance tenant appeal and reduce future maintenance costs. Tenants enjoy condo-quality living in a highly walkable neighborhood near Beverly Hills, Century City, and UCLA. With high demand and limited rental inventory in the area, 1259 Devon Ave presents a rare opportunity to acquire a stabilized, high-yield asset with strong fundamentals. Whether you're looking for steady cash flow, long-term appreciation, or a strategic foothold in a blue-chip location, this property checks every box. It's ideal for both new and experienced investors seeking a low-maintenance building in one of Los Angeles strongest rental market.
Additional Information
- Pool Description
- None
- Fireplace Description
- See Remarks
- Heat
- Central, Wall Furnace
- Cooling
- Yes
- Cooling Description
- Central Air
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Atrium
- Attached Structure
- Attached
- Number Of Units Total
- 6
- Gross Scheduled Income
- $185,015
Listing courtesy of Listing Agent: Jordan Wang (Jordan@TheWangGroup.com) from Listing Office: Keller Williams Realty Irvine.
Listing sold by Geoffrey Jaime from GT Investments
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.